Price for Cereal Flours; Other than of Wheat or Meslin in the Philippines - 2023

Contents:

1. Price for Cereal Flours; Other than of Wheat or Meslin in the Philippines (CIF) - 2023
2. Price for Cereal Flours; Other than of Wheat or Meslin in the Philippines (FOB) - 2022
3. Imports of Cereal Flours; Other than of Wheat or Meslin in the Philippines
4. Exports of Cereal Flours; Other than of Wheat or Meslin in the Philippines

Price for Cereal Flours; Other than of Wheat or Meslin in the Philippines (CIF) - 2023

In November 2023, the average import price for cereal flours; other than of wheat or meslin amounted to $1,108 per ton, dropping by -2.9% against the previous month. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in February 2023 when the average import price increased by 6.4% against the previous month. Over the period under review, average import prices attained the maximum at $1,148 per ton in June 2023; afterwards, it flattened through to November 2023.

Average prices varied noticeably amongst the major supplying countries. In November 2023, the highest price was recorded for prices from Vietnam ($1,131 per ton) and Taiwan (Chinese) ($1,131 per ton), while the price for Turkey ($1,024 per ton) and Mexico ($1,024 per ton) were amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Turkey (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cereal Flours; Other than of Wheat or Meslin in the Philippines (FOB) - 2022

In 2022, the average export price for cereal flours; other than of wheat or meslin amounted to $912 per ton, rising by 8.5% against the previous year. Over the period under review, the export price continues to indicate a moderate increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 118%. Over the period under review, the average export prices attained the maximum at $1,922 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($914 per ton) and the United States ($914 per ton), while the average price for exports to the United Arab Emirates ($910 per ton) and New Zealand ($914 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+29.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cereal Flours; Other than of Wheat or Meslin in the Philippines

In 2022, the amount of cereal flours; other than of wheat or meslin imported into the Philippines reached 23K tons, picking up by 4.8% against 2021. Overall, imports, however, recorded a perceptible curtailment. The pace of growth was the most pronounced in 2020 when imports increased by 17%. As a result, imports reached the peak of 29K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of cereal flours; other than of wheat or meslin expanded significantly to $24M in 2022. The total import value increased at an average annual rate of +6.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 30% against the previous year. As a result, imports reached the peak of $26M. From 2021 to 2022, the growth of imports of failed to regain momentum.

Top Suppliers of Cereal Flours; Other than of Wheat or Meslin to the Philippines in 2022:

1. Thailand (11.9K tons)
2. Vietnam (4.0K tons)
3. United States (3.5K tons)
4. Turkey (1.5K tons)
5. United Kingdom (0.9K tons)
6. Mexico (0.4K tons)

Exports of Cereal Flours; Other than of Wheat or Meslin in the Philippines

In 2022, overseas shipments of cereal flours; other than of wheat or meslin decreased by -50.5% to 218 tons, falling for the second consecutive year after two years of growth. In general, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 417% against the previous year. As a result, the exports attained the peak of 572 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of cereal flours; other than of wheat or meslin declined significantly to $199K in 2022. Overall, exports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2020 with an increase of 325% against the previous year. As a result, the exports attained the peak of $559K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Top Export Markets for Cereal Flours; Other than of Wheat or Meslin from the Philippines in 2022:

1. United Arab Emirates (120.0 tons)
2. Canada (53.8 tons)
3. United States (30.9 tons)
4. Qatar (4.7 tons)
5. New Zealand (3.6 tons)
6. Australia (3.3 tons)
7. Bahrain (0.5 tons)

Source: IndexBox Market Intelligence Platform